Pope Leo is concerned about AI replacing human work. Traders share his concern long term
Pope Leo expressed concerns about the potential for artificial intelligence to cause mass unemployment, labeling it a possible 'social calamity.' He emphasized the need for regulation to protect human dignity and the common good. Traders predict a significant rise in U.S. unemployment rates, reflecting fears about the economic impact of AI.
- ▪Pope Leo warned about the dangers of AI leading to mass unemployment.
- ▪He called for regulation of AI to protect human dignity and the common good.
- ▪Traders on Kalshi estimate a 60% chance that U.S. unemployment will exceed 8% before 2030.
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Pope Leo warned over the weekend about a "social calamity" that could come from mass unemployment due to the adoption of artificial intelligence technologies. Prediction market traders appear to think that worry isn't misplaced.In his first encyclical, a document that is a form of teaching by the leader of the Catholic Church, Pope Leo urged the world to regulate AI. He also warned about the effects it may have on the labor market. "The pursuit of greater profits cannot justify choices that systematically sacrifice jobs, because the human person is an end, not a means, and the economic order must remain subordinate to human dignity and the common good," he wrote. Traders on Kalshi place 60% odds that U.S. unemployment will cross 8% at some point before 2030.
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